Prominent North West developer and construction company Legacie Developments have secured a deal to acquire a landmark site close to Salford Quays for a £40million residential scheme.
The new development will see Legacie, who have delivered a variety of successful residential developments in Liverpool, expand operations into Greater Manchester.
The site which is located on the junction of Ordsall Lane and Dyer Street and adjacent to the River Irwell, has already been granted planning permission for 196 residential apartments and a commercial unit.
The multi-million pound development, which will complement the significant investment already underway in the burgeoning Salford Quays district, will be known as ‘Merchant’s Wharf’ in a nod to the industrial heritage of the area.
John Morley, Managing Director of Legacie Developments, said:
“We are incredibly excited to announce plans for Merchant’s Wharf. The area between Salford Quays and Manchester City centre is experiencing a real renaissance with huge investment and regeneration underway and we are pleased to be playing our part. Our development, comprising 196 state-of-the art apartments, will add further quality to the residential offer in the area. This is Legacie’s first development in Greater Manchester and we are looking forward to starting work.”
Legacie Developments is partnering on the project with investment consultancy RWinvest. Together they have developed a long-term strategy that will see them targeting further development opportunities in Greater Manchester in the coming years.
Michael Gledhill, Director at RWinvest, said:
“Merchant’s Wharf will be a high-quality project delivered in partnership with Legacie Developments, who have an excellent track record of completing their developments in good time.
Our long-term strategic vision is to expand our activities in Greater Manchester. The target for our partnership with Legacie is to commence construction for 2,000 units in the area within the next three years. We have been active in the local market since 2012 and will be opening a new office in MediaCityUK shortly to add to our existing offices in Central London and Liverpool. We are in a very strong position to ramp up our activities in this area.”
Salford has seen the second highest population growth in Greater Manchester over the last 30 years and is becoming an increasingly more desirable place to live. Billion-pound developments like MediaCityUK Phase 2 are drawing in countless young professionals and creatives. Large-scale developments such as Merchant’s Wharf play an essential part in supporting the area to meet its goals for accommodation as this growth continues.
